Tales from the Trail
The last time Barack Obama saw Jordan’s King Abudullah, the monarch literally gave him a ride to the airport in Amman. That was before Obama was elected president, and the king shouldn’t expect a return of the favor during his visit to Washington today.
Goldman Sachs, coming off a strong earnings report, may try to pay back its $5 billion government loan early, so it can get out from under mandated salary caps. This move could reduce the cost of the financial bailout but also rekindle public anger about Wall Street greed. Look for a response from the Obama administration today.
from Pakistan: Now or Never?:
Barely had President Barack Obama outlined a new strategy for Afghanistan and Pakistan meant to narrow the focus to eliminating the threat from al Qaeda and its Islamist allies, before the U.S.-led campaign ran into what was always going to be one of its biggest problems in limiting its goals. What does it do about the rights of women in the region?
from Commodity Corner:
Ron Kirk, the Obama administration's choice for U.S. Trade Representative, had a rapid-fire confirmation hearing before the Senate Finance Committee on Monday that lasted no longer than 45 minutes.
President Obama takes on healthcare reform at a 1:00 p.m. White House forum today, hoping to design an overhaul of a costly and inefficient system he believes is threatening the economy. About 120 participants from industry and government will gather to discuss potential fixes to the $2.5 trillion system.
It’s not yet 9:00 on a Monday morning, and the federal government has already dumped another $30 billion into the tottering financial system. The money goes to insurer American International Group Inc., which just announced a fourth-quarter loss of $61.7 billion — the largest quarterly loss in corporate history.